Tuesday, July 23, 2024

Gas Prices in Louisiana Show Incremental Rise

by BIZ Magazine

Gasoline prices in Louisiana have experienced a slight uptick, rising by 6.5 cents per gallon over the last week, according to GasBuddy’s latest survey of 2,436 stations across the state. The average price currently stands at $2.98 per gallon, reflecting an increase of 18.2 cents per gallon compared to a month ago. However, prices remain 5.8 cents per gallon lower than the same period last year.

In neighboring areas, Baton Rouge witnessed a 4.5 cent per gallon increase, with prices reaching $2.98 per gallon, while Jackson saw a modest one-cent increase to $2.88 per gallon. New Orleans experienced a more significant rise of 5.6 cents per gallon, with prices now standing at $3.03 per gallon.

Nationally, the average price of gasoline has risen by 6.2 cents per gallon in the past week, reaching $3.40 per gallon. This marks a 23.0 cent per gallon increase from a month ago, although it remains 4.5 cents per gallon lower than the same period last year.

“The national average price of gasoline has seen a continued but measured rise compared to last week, but the pace of increases has slowed slightly in the last few days,” noted Patrick De Haan, head of petroleum analysis at GasBuddy. He attributed this to a rise in refinery utilization, suggesting potential relief for drivers in the near future.

De Haan further explained that the seasonal rise in gas prices is typically influenced by factors such as refinery maintenance, the transition to summer gasoline, and increasing demand. However, the recent boost in refinery output could alleviate some pressure on prices, offering a glimmer of hope for consumers.

GasBuddy, renowned for its comprehensive and up-to-date gas price data, provides real-time updates from nearly 150,000 stations nationwide. The organization’s insights serve as a valuable resource for motorists seeking information on fuel prices.

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